Latest news with #ShriramWealth
The Hindu
9 hours ago
- Business
- The Hindu
Investors want to buy multiple financial products under a single umbrella, says Shriram Wealth's Vikas Satija
Chennai-based Shriram Group, which recently announced its foray into the wealth management business in partnership with South African financial services player Sanlam Group that globally manages assets worth over $80 billion, said it would serve India's growing base of affluent and high-networth investors with personalised solutions designed with the help of artificial intelligence. Shriram Wealth, the wealth management arm of the group, said it would offer a range of services including wealth management, lending solutions, protection solutions, global investment opportunities, inheritance and legacy planning. On market potential, Vikas Satija, Chief Executive Officer and Managing Director, Shriram Wealth told The Hindu that: 'India has 30 lakh households with each home having investable financial assets in excess of ₹2 crore. This opens up a huge market opportunity for wealth- management business.' Although new investor behaviours have been constantly evolving, the traditional Systematic Investment Plan (SIP) alone attracted ₹26,000 crore a month, which amounts to savings of ₹2,64,000 crore a year. 'This gives lot of depth to the capital market today and SIPs can even help absorb some of the pressure from Foreign Institutional Investor exits and overall, manage the pressure on the markets,'' Mr. Satija said. On emerging investor trends, Mr. Satija, said clients were increasingly looking forward to buying multiple products from a single company, unlike the conventional way of going to banks/NBFCs for deposits, insurance firms for various insurances, someone else for mutual funds etc. 'The emerging trend is, customers now prefer to buy all what they want, in terms of alternate investments, under a single umbrella. They want a Swiggy or Zomato for financial services,'' he observed. Paul Hanratty, CEO, Sanlam Group said, 'We see wealth management as a natural evolution as India's economy grows, and people become wealthier. Our aim is not just to manage money, but to create meaningful solutions. This isn't a short-term play; we're here to build a trusted, customer-first wealth business in India for the next 100 years.'' Shriram Wealth said primary target audience would be typically individuals in the 45 years plus, as generally wealth resided in that age group while additional thrust would be on customer relationship over number of transactions. The company would also be deploying artificial intelligence to enable personalised advisory, to make risk profiling sharper to ensure real-time portfolio recommendations. A digital mindset would make Shriram Wealth a provider that is anticipating investor needs rather than just responding. Subhasri Sriram, MD & CEO, Shriram Capital said, the new business, wealth management, was a mission of the company to unlock financial prosperity for millions of Indians.
Yahoo
13-06-2025
- Business
- Yahoo
Shriram Group, Sanlam establish wealth management venture in India
Shriram Group has entered the wealth management sector through a partnership with South Africa's Sanlam Group, targeting India's affluent and high-net-worth individuals (HNIs). The 50:50 JV, named Shriram Wealth, aims to achieve Rs500bn ($5.84bn) in assets under advice (AUA) and recruit 500 wealth management professionals over the next five years. Shriram Wealth will offer a range of services, including mutual funds, alternative investment funds, portfolio management, lending solutions, protection plans, global investment opportunities, and legacy planning. Operations will begin in the top ten cities, with plans to expand to ten more cities within a year, focusing on both metropolitan and emerging Tier 2 and Tier 3 markets. The JV will cater to three client categories, including mass affluent clients with assets between Rs1m and Rs20m, high-net-worth individuals with assets from Rs20m to Rs250m and ultra-high-net-worth individuals with assets exceeding Rs250m. The management has recruited professionals with 15 to 20 years of experience in banking and non-banking sectors, aiming to leverage their client base and diverse product offerings to explore new demographics. Shriram Wealth managing director and CEO Vikas Satija said: 'Currently, only about 15% of financial assets in India are professionally managed, compared to 75% in mature global markets.' Last month, Sanlam formed a partnership with Shriram Asset Management Company (Shriram AMC), a division of the Shriram Group. Shriram AMC offers a range of financial services, including commercial vehicles, consumer finance, life and general insurance, stock broking, chit funds, and financial product distribution. "Shriram Group, Sanlam establish wealth management venture in India" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Hindu
12-06-2025
- Business
- The Hindu
Shriram Group forays into wealth management through joint venture with Sanlam
Shriram Group announced its entry into a wealth management business though its joint venture with South African financial services company Sanlam, on Thursday. Sanlam will have a 50% stake in the joint venture. 'With Shriram Wealth, our vision is to be the most trusted partner, maximizing client wealth and create value that endures over time,' said Vikas Satija, Managing Director & CEO of Shriram Wealth. The company targets a ₹50,000 in Asset Under Advice (AUA) in the next five years, according to the statement. 'The venture will begin operations in India's top 10 cities, expanding to 20 cities in next year, with a strong focus on Tier 2 and Tier 3 markets — regions where Shriram Group has long-standing brand equity,' the statement read.
Mint
12-06-2025
- Business
- Mint
South Africa's Sanlam sharpens India focus with Shriram wealth management JV
India's Shriram Group and South Africa's Sanlam Group on Thursday announced the launch of a wealth management joint venture firm, which aims to have ₹ 50,000 crore in assets under advice over the next five years. Shriram Wealth, a 50:50 a joint venture between the two groups, is already operating in nine cities, and aims to soon expand to Nagpur and Coimbatore as well, as the company eyes India's growing affluent and high net worth investor base. With a strong focus on expanding into tier-II and tier-III cities and catering to a broad base of investors, Shriram Wealth is looking to scale rapidly. Sanlam Group is focused on three core markets—its home base South Africa, the broader African continent, and India, says Thian Fick, executive for India and Group Initiatives at Sanlam. He noted that with India's large population, strong demographics, and robust economic growth, the country's current 20% contribution to the group's business is set to grow significantly. Fick told Mint that sluggish economic growth in South Africa has pushed the group to seek opportunities elsewhere. 'That's where the strategy comes from–focusing on Africa beyond South Africa, and India–two markets where we believe our partnerships position us well for success,' he said. 'Simply, the growth rates of India relative to South Africa will make this contribution grow way beyond the 20% over time.' Vikas Satija, managing director and chief executive, Shriram Wealth, pointed out that high net worth individuals in the affluent segment are expanding at a compounded annual rate of 13-14%. When asked about the listing plans for Shriram Wealth, Satija said it is still early to discuss a timeline, but emphasized that the business is clearly built with a long-term vision. He added, 'Eventually, yes, listing could be part of the plan. I don't want to put my neck out and say whether that's in 7, 10, or 20 years—but at some stage one would want to. One goes to the market to raise capital and if you don't need capital, you may not go to the market.'
